Investor Sells 60K SOL, Price Tests $125 Support
Key Takeaways
- A major investor (“whale”) has sold 60,289 SOL tokens – equivalent to approximately 7.67 million USD.
- The sale is causing uncertainty about a potential price decline.
- Despite the sale, Solana continues to show strong network activity with over 11 million active wallets.
- The SOL price is currently testing a key support zone around 125 USD.
- Market sentiment is neutral – no clear trend among traders is evident.
Whale Sale Sparks Debate
A single large investor has offloaded 60,289 Solana (SOL) tokens. The tokens were unstaked prior to being sold for 7.67 million USD in USDC – at a price of 127 USD per SOL. Transactions of this scale can exert short-term pressure on the price and are often seen as a signal of a potential correction.
Solana Network Continues to Grow
Despite the sale, the Solana network continues to develop positively. The number of wallets holding at least 0.1 SOL has reached a new all-time high: 11.12 million addresses. This suggests a growing user base – among both retail investors and developers. This trend supports a long-term stable demand for SOL.
Key Support Zone in Focus
The current SOL price stands at 125.19 USD – a decline of nearly 5% over 24 hours. This brings the price close to a key technical support zone. This level has held several times in the past. Traders are now closely watching whether a recovery will occur or if the price will continue to drop.
Funding Rate Indicates Neutral Market Sentiment
A look at the so-called funding rates – the financing rates for leveraged positions on futures exchanges – reveals a neutral stance in the market. The current value is at 0.002343%. This means: there is no clear majority of long (rising prices) or short positions (falling prices). Traders are holding back and waiting for new signals.
Strategic Sale or Warning Sign?
The whale’s sale raises questions: Is this a warning sign of an impending price drop? Or a tactical move to secure profits ahead of a possible rally? Given the strong network growth and the stable support zone, there is much to suggest that this is more likely a short-term correction – not the beginning of a long-term downtrend.
Our Assessment
The sale of 60,000 SOL by a major investor has caused short-term uncertainty. However, Solana remains fundamentally strong. The growing user base, stable technical levels, and neutral market sentiment do not point to a sustained weakness. Those holding or considering buying SOL should closely monitor price developments in the coming days – particularly whether the 125 USD support holds. A drop below this level could trigger further losses, while a rebound could initiate a new upward trend.
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